Revolut Crypto App: Is It Any Good?
Revolut’s crypto trading platform is currently in the spotlight. As a relatively new entrant in the crypto space, it has quickly garnered investors’ attention. The company offers features and services such as cryptocurrency wallets, the buying and selling of digital assets, and fast, easy transactions.
However, it’s not the only platform with similar services. In fact, the crypto space is teeming with such exchanges, all trying to offer the best deals to investors. So, what makes Revolut stand out? And is it a trustworthy and reliable option? Let’s find out.
Is Revolut Good for Crypto Trading?
Revolut crypto offers traders an advanced, easy-to-navigate platform with a modern interface. It also enables the exchange of 130 digital currencies, with the company gradually adding new cryptos and features. The goal is to integrate crypto services with traditional banking, which is no easy feat.
Still, Satoshi Nakamoto created the first cryptos to free users from the influence and dependence on the traditional banking system. For that to happen, cryptos should be in our everyday lives.
Have you ever imagined a world where you enter the shop and pay with your cryptos directly from your wallet?
Unfortunately, we aren’t there yet.
While you can sometimes use cryptos for such transactions, they mostly belong to the financial markets world. Integrating digital assets in banking systems will help to fasten this process and make the digital tokens daily usable currencies.
That’s why platforms like Revolut are important. They play a big role in popularising cryptos and making them accessible to millions of people. The company already boasts approximately 40 million customers, which is growing.
Convenient but Costly
Many customers mention that its trading app is convenient and easy to use. However, the company also has higher fees than other exchanges. But high-quality service is often worth the price.
The platform has many useful features and tools. So, trading on it is a seamless, pleasant experience. It offers various plans for new and experienced traders, and investors can choose the one that fits their trading goals.
The customer support team is there to fix any problems or answer customers’ questions. So, this platform is good for crypto trading. If its account plans fit your goals, you can try it, but it’s better to start with small investments first.
How to Sell Crypto on Revolut?
As mentioned, you can buy and sell cryptos on this platform. Both are easy processes. That’s important as many crypto exchanges have complicated interfaces that even experienced traders struggle to make heads and tails.
Thankfully, you will have no such problem on the Revolut app or website. It enables fast and secure cryptocurrency transactions. Security is another important point, considering the number of scams on the market.
In fact, you should be careful in that regard. Nowadays, scammers are so proficient in website-building that users often can’t differentiate the real exchanges from the scams. So, diligence and broad teachers are called for when choosing the trading platform.
Revolut employs strong security measures to ensure that client’s funds are not accessible to malware or hackers.
To sell cryptos on this platform, you must create your account first and deposit some of your assets in your wallet. Then, move to the home screen and hit the crypto section. Select your Bitcoin balance and press – Sell. You can then choose the currency you want to exchange BTCs for and fill in the amount you want to sell. Don’t forget to check the conversion rate before you press the “Sell” button. Voila, you are all set.
How to Send Crypto to Revolut?
As we have mentioned, before you can sell cryptos on Revolut, you have to deposit some in your wallet first. The platform enables you to do that fast and safely. Moreover, you can instantly convert your cryptos to fiat currencies. That is a great advantage. However, you should consider that it has minimum deposit thresholds for some accounts: Read the terms and conditions first before deciding which one to open.
Only Standard accounts are free. Premium, Metal, and Ultra accounts come with fees, starting from £3.99 to £45 a month.
The company uses blockchain technology to transfer cryptos from other wallets to its platform. On-chain transactions are more secure, so you can safely transfer the tokens.
How to Receive Crypto on Revolut?
The company only supports the deposits for several cryptos. You can check them directly in the app’s “Receive” section before the transaction, as the list might change. The support team warns you not to use the app to deposit other tokens, as you won’t be able to finish such transactions and may lose your assets.
After depositing the coins, you can start buying or selling the cryptos.
Popular Tokens
Bitcoin
Ethereum
Litecoin
Ripple
How to Withdraw Crypto from Revolut?
Revolut users can easily withdraw cryptos from their accounts and send them to an external address. This is also an on-chain transaction, and as such, it is irreversible.
However, while the platform supports trading many cryptos, you can send only specific tokens to specific networks. So, you should check whether you can transfer your cryptos to the chosen blockchain before transferring them.
The company also has fees for cryptocurrency exchanges or transfers, especially when sending crypto to external wallets. So, as we have mentioned above, you should check your revolut account terms carefully before making any transaction.
Overall, the Revolut crypto platform is a good choice for beginner and experienced traders. It is a reliable, diverse and fast platform created for seamless trading.
Stay tuned for more news about the best crypto platforms out there!
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